Axisresearch
- Automation
- Mordor Intelligence
- 80 pages
- Published: 11-06-2019
Market Overview
The number of smart meter units installed in Middle East & Africa was estimated to be 1,723.2 thousand units in 2018, and it is estimated to witness a CAGR of 42.0% over the forecast period (2019-2024). With rapid economic and population growth resulting in higher energy demand, the need for energy management is substantial in the Middle East & African region.
The need for improvement in energy efficiency and smart city investments are driving the growth in the Middle East & African smart meters market.
The most prominent restraint in the smart meters market is the availability of capital funding. Smart systems are comparatively more expensive than the regular metering equipment employed by most of the service providers and users.
According to the World Bank, the primary energy demand in the Middle East & North African region is expected to rise at an annual rate of 1.9%, through 2035. These factors indicate the need for smart metering infrastructure, in order to manage the demand and plan network expansion accordingly.
Scope of the Report
A smart meter is an electronic device that records the consumption of electric energy and communicates the information to the electricity supplier for monitoring and billing. Smart meters typically record energy hourly or more frequently, and report at least daily.
Key Market Trends
Commercial Sector to Hold Significant Share
The commercial infrastructure in smart metering includes hospitals, offices, schools, retailers, and restaurants, among others. The real benefit for the commercial users is that they can keep a closer eye on the volume used, therefore, lowering or streamlining the amount spent on a daily basis. Additionally, features, like real-time monitoring with analysis can offer the small business in the region with the ability to address any wastage.
The water shortage in schools in South Africa has led to the high adoption of smart water meters. In December 2017, in South Africa, schools faced a massive water shortage, which, in turn, compelled organizations to integrate smart water meters, to monitor and reduce the unnecessary consumption of water.
The growing infrastructure development in the region is further expected to drive the market for smart meters and attract market vendors to target a wide range of commercial customers. For instance, Steamaco rolled out 20,000 meters in West Africa, from containerized solar mini-grids in Mali to dense shopping markets in northern Nigeria.
Saudi Arabia Expected to Hold Major Share
One of the fastest-growing economies in the Middle East, the Kingdom of Saudi Arabia is faced with a growing energy demand. Accelerated economic and infrastructure growth calls for stable and reliable energy supply and management. The plan for large-scale smart metering implementation, supporting the Saudi Electricity Company’s (SEC) goal for enhanced energy efficiency, in line with Saudi Vision 2030, is witnessing increased investments.
For SEC, the introduction of smart metering is essential for handling a booming energy demand in a fast-paced economy. Moreover, smart metering implementation projects are seen as a sign of thorough restructuring and liberalization of the Saudi electricity sector.
With the number of metering points continuously on the rise, especially in the residential sector, the country aims to install around 12 million smart meters across the Kingdom by 2030. Furthermore, the SEC announced the launch of the Smart Metering Project Wave public tender, which involves the deployment of over 2 million smart meters, testing equipment, telecommunications infrastructure, and head-end system.
As average temperatures go up in the country and infrastructure continues to develop, the demand for air conditioning is projected to triple by 2050, according to the intergovernmental organization International Energy Agency. However, growth in electricity consumption in the country is likely to slow to 1.5% a year, down from the estimated 6-10% , according to the SEC.
Competitive Landscape
With only a few domestic companies in the Middle East & African region, the global companies with significant supplier/distribution channels and subsidiaries in the region constitute the competitive landscape of the Middle East & African smart meters market. Domestic technology companies are involving in strategic partnerships with global smart meter companies, in order to benefit from the technical expertise and increase the domestic presence. This, in turn, is increasing the chances for more contracts from the regional government. Some examples of strategic partnerships, mergers, and acquisitions in the Middle East & African smart meters market are:
In October 2017, the Dubai Electricity and Water Authority (DEWA) selected Honeywell for the provision of additional 150,000 smart meters. In the previous deal, the solutions provider supplied the utility with 250,000 advanced metering infrastructure (AMI) units.
In February 2018, Electricity and Water Distribution (EWA) and Iskraemeco announced the development of a smart grid in Bahrain. Iskraemeco as part of the modernizing project that aims to reform the Bahraini energy sector. After a period of intensive collaboration, Iskraemeco has become one of the leading metering solution providers in Bahrain.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Need For Improvement in Energy Efficiency and Smart City Investments
4.2.2 Demand for Sustainable Water Supply for All End Users
4.3 Market Restraints
4.3.1 High Costs and Integration Difficulties with Smart Meters
4.4 Value Chain / Supply Chain Analysis
4.5 Porter’s Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By End User
5.1.1 Residential
5.1.2 Commercial
5.1.3 Industrial
5.2 Smart Electricity Meters Market Segmentation
5.2.1 By Region
5.2.1.1 Middle East
5.2.1.2 Saudi Arabia
5.2.1.3 Africa
5.3 Smart Gas Meters Market Segmentation
5.3.1 By Region
5.3.1.1 Middle East
5.3.1.2 Africa
5.4 Smart Water Meters Market Segmentation
5.4.1 By Region
5.4.1.1 Middle East
5.4.1.2 Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 LANDIS+GYR Group AG
6.1.2 WASION Group Holdings
6.1.3 Elster Group GmbH (Honeywell International Inc.)
6.1.4 Iskraemeco, d.d.
6.1.5 Electromed (Termikel Group)
6.1.6 Kamstrup AS
6.1.7 Holley Technology
6.1.8 ADD Group
6.1.9 Itron Inc.
6.1.10 Hexing Electric Co. Ltd
6.1.11 Sensus (Xylem Inc.)
6.1.12 Diehl Metering FZE
6.1.13 AEM SA
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By End User
Residential
Commercial
Industrial
Smart Electricity Meters Market Segmentation
By Region
Middle East
Saudi Arabia
Africa
Smart Gas Meters Market Segmentation
By Region
Middle East
Africa
Smart Water Meters Market Segmentation
By Region
Middle East
Africa